Oil Drops $2 after Fed Announcement
Apr 30th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsCrude oil prices tumbled today following the announcement by the Federal Reserve on interest rates.
Earlier today the Federal Reserve said it would lower interest rates by a quarter percentage point.
CNN reports: “US light crude for June delivery fell $2.17 cents to settle at $113.46 a barrel on the New York Mercantile Exchange. Just before the central bank’s announcement, oil was 93 cents lower at $114.70 a barrel.
The Fed rate cut is expected to the last for a the moment after the Fed suggested it will watch inflation.
“This seems a good time to mention that you should be selling your house and buying gold with all your money,” says the Mogambo Guru, “and if the kids have to miss a few meals or if they have to sleep in the car because I cannot afford an apartment big enough for all of us but it is perfectly cozy enough for me, that is the price you are willing to pay.”
Advertisement
After a decade of work, I’ve perfected a method that can predict the movement of individual stocks or entire markets – down to the penny – days, even years in advance. And it works with stocks, bonds, ETFs, currency…
In fact, I’ve recently led readers to gains of as much as 130%...153%...and 155%. It’s so accurate, that both a European bank and a foreign government have tried to steal it from me.
Click to find out what makes this the most powerful financial indicator on earth… and how you can use it to your full advantage.